Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 22, 2024

The trial balance of Marley Motorcycles shows Merchandise Inventory of $ 8 0 , 0 0 0 . Based on a count taken on December

The trial balance of Marley Motorcycles shows Merchandise Inventory of $

80, 000 .

Based on a count taken on December

31,

merchandise inventory at the end of the year actually totaled $

92, 000 .

The company uses a periodic inventory system. The adjusting entry to record the new merchandise inventory balance would be:

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting For Non Specialists

Authors: Catherine Gowthorpe

2nd Edition

1844802051, 978-1844802050

More Books

Students also viewed these Accounting questions

Question

★★★★★

The Swenson Corporation has a standard costing system. The following data are available for June: The actual price per pound of direct materials purchased in June is $6.87 $7.00 $7.10 $7.13 Acial...

Answered: 1 week ago

Question

★★★★★

A computer is instructed to generate a random sequence using the digits 0 through 9; repetitions are permissible. What is the shortest length the sequence can be and still have at least a 70%...

Answered: 1 week ago

Question

★★★★★

Despite the fact that many work psychologists believe that job satisfaction and job performance are weakly related (see Judge et al., 2001), the majority of laypeople believe that job satisfaction...

Answered: 1 week ago

Question

★★★★★

Referring to the contingency table in Problem 4.8, if an employed adult is selected at random, what is the probability that a. The employed adult felt tense or stressed out at work? b. The employed...

Answered: 1 week ago

Question

★★★★★

4. Production Planning with Fixed Costs (IP) Radford Castings can produce brake shoes on six different machines, two of which run on electricity (machines 1 and 2) and four of which run on natural...

Answered: 1 week ago

Question

★★★★★

9 Rediger Ine., a manufacturing Corporation, has provided the following data for the month of June. The balance in the Work in Process inventory account was $38,000 at the beginning of the month and...

Answered: 1 week ago

Question

★★★★★

XYZ Corp. has prepared the following budget information for the second quarter: Various Operating Budget Information April May June Sales Forecast ( units of finished goods) 13,000 units 19,500 units...

Answered: 1 week ago

Question

★★★★★

Yukon territorial government entered into an agreement with HEMI to open a warehouse in Whitehorse . The agreement required the Yukon territorial government to prepay $10, 000 ,000 for future...

Answered: 1 week ago

Question

★★★★★

By recognizing the series 1+ 12n +. + +as 3! n! 12 144 1728 + + 1! 2! a Taylor series evaluated at a particular value of x, find the sum of the series. NOTE: Enter the exact answer or round to three...

Answered: 1 week ago

Question

★★★★★

A river where drinking water is taken is feared to have been polluted by coliform bacteria In order to investigate this, we take a sample tube of water at n randomly selected sites from the river...

Answered: 1 week ago

Question

★★★★★

(a) Prove that the equation has at least one real solution. (b) Use a calculator to find an interval of length 0.01 that contains a solution. 59. cos x = x3 60. x5x2 + 2x + 3 = 0 61-62 (a) Prove that...

Answered: 1 week ago

Question

★★★★★

5.8 At the beginning of winter, a homeowner estimates that the probability is 0.4 that his total heating bill for the three winter months will be less than $380. He also estimates that the...

Answered: 1 week ago

Question

★★★★★

5.5 An analyst has available two forecasts, F1 and F2, of earnings per share of a corporation next year. He intends to form a compromise forecast as a weighted average of the two individual...

Answered: 1 week ago

Question

★★★★★

5.10 The profit for a production process is equal to $1,000 minus two times the number of units produced. The mean and variance for the number of units produced are 50 and 90, respectively. Find the...

Answered: 1 week ago

Previous Question Next Question